Balaji Speciality Chemicals Limited IPO

Founded in the year 2010, Balaji Speciality Chemicals Limited operates as a subsidiary of Balaji Amines Limited (BAL) and specializes in the manufacturing of methylamines, ethylamine, as well as derivatives of specialty chemicals and pharma excipients.

Among the substances produced by the business are ethylenediamine, piperazine (anhydrous), diethylenetriamine, amino ethyl ethanol amines, and amino ethyl piperazine. These import substitutes are created utilizing the Monoethanol Amine (“MEA”) process.They are used in a variety of industries, including specialized chemicals, agrochemicals, and pharmaceuticals.

Balaji Speciality Chemicals boasts a manufacturing unit situated in Solapur, Maharashtra. This facility, sprawling over an area of 41,920 square meters, houses advanced production capabilities. This unit’s aggregate yearly installed capacity was 30,000 MT per year as of March 31, 2022.

In the fiscal year 2022, the company successfully served 182 customers comprising manufacturers in the realms of specialty chemicals, agrochemicals, pharmaceuticals, as well as distributors. Among its esteemed clients are notable names like Nanjing Union Chemical Company Limited, Korea India Limited, UPL Limited, Dr. Reddy’s Laboratories Limited, and Aarti Drugs Limited.

Over the years, Balaji Speciality Chemicals has demonstrated an impressive revenue trajectory. In Fiscal 2020, the company recorded revenue from operations amounting to ₹538.81 million. This figure surged to ₹1,744.01 million in Fiscal 2021 and further escalated to ₹5,142.80 million in the following year, underlining its growth and increasing market presence.